Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company terminates prior to the date specified below and/or in the event the performance criteria described in SECTION 2(b)(i) are not satisfied. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this SECTION 2 shall apply to the Transferee to the same extent as to the Participant. A purported transfer of any Restricted Shares not in compliance with this SECTION 2(a) shall be void and of no effect.
Restriction on Transfer of Restricted Shares. None of the Restricted Shares or any beneficial interest therein shall be transferred, encumbered, pledged or otherwise alienated or disposed of in any way until they have become vested in accordance with Section 2 of this Agreement.
Restriction on Transfer of Restricted Shares. Holder shall not sell, exchange, transfer, alienate, hypothecate, pledge, encumber or assign any Restricted Shares, or any rights with respect thereto. Neither the Restricted Shares nor any interest or right therein or part thereof shall be liable for the debts, contracts, or engagements of Holder or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy) and any attempted disposition thereof shall be null and void and of no effect.
Restriction on Transfer of Restricted Shares. Employee may not transfer, sell, pledge, exchange, assign or otherwise encumber or dispose the Restricted Shares, except to the Company, until they have become nonforfeitable in accordance with Section 3 of this Award Agreement. Any purported transfer, encumbrance or other disposition of the Restricted Shares that is in violation of this Section 2 will be null and void, and the other party to any such purported transaction will not obtain any rights to, or interest in, the Restricted Shares.
Restriction on Transfer of Restricted Shares. The Restricted Shares or any beneficial interest therein may be transferred, encumbered, pledged or otherwise alienated or disposed of in any way by the Grantee at any time, subject to the transfer restrictions set forth in the Shareholders Agreement.
Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company terminates prior to the specified Vesting Period as defined below. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this
Restriction on Transfer of Restricted Shares. Except for the escrow described in Section 3 hereof or the repurchase by the Company contemplated by Section 2(b) hereof, none of the Restricted Shares or any beneficial interest therein shall be transferred, encumbered, pledged or otherwise alienated or disposed of in any way until they have become vested in accordance with Section 2 of this Agreement. Even after any of the Restricted Shares become transferable pursuant to this Agreement, they will remain subject to the transfer restrictions set forth in the Shareholders Agreement.
Restriction on Transfer of Restricted Shares. The Stockholder shall not assign, sell, encumber, give, distribute, hypothecate or otherwise transfer (all hereinafter referred to as a “transfer”) any of the Restricted Shares (as defined below) or any interest therein except in connection with a Permitted Transfer.
Restriction on Transfer of Restricted Shares. 4.1 Except as otherwise provided herein, Elkan shall not voluntarily or involuntarily, sell, transfer, assign, pledge, or otherwise dispose of or encumber the Restricted Shares prior to the later of the Zero Covenant Date or the fifth anniversary of the Effective Date (such later date, the "5th Anniversary/Zero Covenant Date"). Consent to one transfer shall not be considered as consent to any subsequent transfer and any transferee, whether voluntary or involuntary, shall take such Restricted Shares subject to the terms of this Agreement.
Restriction on Transfer of Restricted Shares. Restricted Shares may not be transferred, sold, pledged, exchanged, assigned or otherwise encumbered or disposed of by the Grantee unless and until that date when such Restricted Shares become nonforfeitable in accordance with Section 3 hereof (the “Vesting Date”). Any purported transfer, encumbrance or other disposition of the Restricted Shares in violation of this Section 2 shall be null and void, and the other party to any such purported transaction shall not obtain any rights or interest in the Restricted Shares.
